Dubai World Ports announced strong financial results for the year ended December 31, 2019. On the basis of accounting reports, revenue increased by 36.1%, adjusted earnings before deduction of interest, taxes, depreciation and amortization increased by 17.7%, and profit margin (adjusted before interest, taxes, depreciation and amortization) increased by 43%, achieving profits attributable to the owners of the company, before the items to be disclosed separately, valued at $ 1,328 million, an increase of 4.6% and earnings per share of 160.0 US cents
The most important results
Revenue of $ 7,686 million
Revenue achieved 36.1% growth with support from acquisitions, including P&O Fires (UK), Topaz Energy and Navigation (UAE), Puerto Central and Puerto Lercin stations in Chile, in addition to To the influence of the whole year, the Continental Warehouse Corporation (India), Cosmos Agencia Maritima (Peru) and Unifield (Denmark), and the merger of Australia.
Returns on a gay comparison basis increased by 2.3%, driven by a 16.0% growth in returns from unpacked goods.
Adjusted profit before deduction of interest, taxes, depreciation and amortization of $ 3,306 million and margin of adjusted profit before deduction of interest, taxes, depreciation and amortization by 43.0%
Adjusted profit before deduction of interest, taxes, depreciation and amortization grew by 17.7% and achieved a full year margin of 43.0%.
Adjusted profit margin before deduction of interest, taxes, depreciation and amortization based on an ideal comparison is 49.6%.
Profits for the period attributable to the owners of the company amounted to $ 1,328 million
The strong growth in the adjusted profits before deduction of interest, taxes, depreciation and amortization increased the profits attributable to the owners of the companies before the items to be disclosed separately by 4.6% quarterly and growth by 5.4% on the basis of homeopathy and fixed currency.
Strong cash generation performance and a strong balance sheet
Cash from operating activities was $ 2,462 million.
The value of free cash flows (infa after capital expenditure in cash on maintenance tax and before the distribution of previous dividends) was $ 2,058 million.
Leverage (from adjusted net debt to adjusted earnings before deduction of interest, taxes, depreciation and amortization) has grown to 3.9 times. The net leverage level before the adoption of IFRS 16 was 3.4 times.
The proposed gross stock paid 40 US cents
Dividend distributions of US $ 40 cents per share, generally reflecting the historical dividend ratio.
Record listing deals are listed
The company raised $ 2.3 billion by issuing long-term bonds at record low interest rates to eliminate the risk of refinancing.
The company strengthened the balance sheet and provided financial flexibility.
Continuous investment along the business portfolio
Investments in the port and terminal sector include two new stations in Chile (Puerto Central and Puerto Lerkin) and merger of stations in Australia.
Investments in the logistics sector include the acquisition of the European comprehensive logistics platform affiliated with P&O Virus and the marine logistics operator Topaz Energy and Navigation.
Capital expenditure amounted to $ 1,146 million, invested in the current business portfolio.
In 2019, the total capacity reached 91.8 million TEUs measuring 20 feet. The combined capacity was 54.2 million TEUs measuring 20 feet.
Capital expenditure directives for 2020 amount to $ 1.4 billion, and include the implementation of planned investments in the United Arab Emirates, Prince Robert, the London Gateway Port (UK), Jeddah (Saudi Arabia), and “ Callao (Peru), Sokhna (Egypt) and Berbera (Somaliland).
"Bosorga", the only deepwater port in Ecuador with a capacity of 750,000 TEUs measuring 20 feet, was opened on time and within budget.
The renewal of the concession for 30 years at Jeddah Islamic Port, which is the largest port and hub, is a key link to facilitate the smooth transportation of goods between East and West in Saudi Arabia.
Unconfirmed global trade forecasts
Global trade prospects remain uncertain due to the supply chain disruption caused by the outbreak of Covid-19 virus.
We continue to focus on maintaining a disciplined investment approach to delivering integrated supply chain solutions to cargo owners.
For 2020, we will focus on merging our recent acquisitions and managing costs to protect profitability.